What is the AP global indicator?

Created by the Associated Press in 2005, the AP Global Indicator (GPI) is a composite measure of the global economy’s health. It comprises 10 leading economic indicators across four broad categories:

Economic activity

Composite PMI readings from Markit

OECD leading indicators

Financial markets

Global MSCI share index

MSCI world bond index

Inflation

OECD consumer prices index

Global GSCI commodity index

Monetary policy

US interest rate futures

Spread between 3- and 10-year US Treasury bond yields

A value above 50 suggests that the global economy is expanding, while a value below 50 suggests a contraction is underway.